FxWirePro: South Korean won remains unchanged against euro after BOK’s rate decision

• EUR/KRW is currently trading around 1,255 mark.
   
• Pair made intraday high at 1,256 and low at 1,252 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,247 mark.
   
• A daily close below 1,247 will drag the parity down towards key supports around 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.


• Alternatively, a sustained close above 1,256 will take the parity higher towards key resistances around 1,263, 1,274, 1,287 and 1,304 marks respectively.


• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open up 0.35 pct at 2325.49.
   
• South Korea’s May BOK base rate stays flat at 1.25 % (forecast 1.25 %) vs previous 1.25 %.

We prefer to take long position in EUR/KRW only above 1,256, stop loss at 1,247 and target of 1,263/1,274/1,287.